According to SoSoValue data, there was a significant influx of capital into Bitcoin spot ETFs last week. During this period, the total investment increased by approximately $245 million, with funds such as Fidelity’s Bitcoin ETF (FBTC) and ARK & 21Shares Bitcoin ETF (ARKB) contributing to these additions.
Fidelity Bitcoin ETF FBTC Dominates with Major Inflows, Grayscale Faces Net Outflows
Last week, it was FBTC that led as the Bitcoin spot ETF with the most significant weekly inflow. The fund attracted a substantial $275 million, increasing its total historical net inflows to an impressive $12.11 billion. By all appearances, FBTC continues to set the standard among Bitcoin spot ETFs and consistently outperforms others in the market.
The ETF known as ARK & 21Shares Bitcoin (ARKB) was the second-largest contributor to inflow last week, registering a net inflow of approximately $202 million. This brings the total historical net inflows for ARKB to an impressive $2.69 billion. Although it’s not yet at the level of FBTC, it’s clear that ARKB is also a significant player in the market.
Even though both funds showed impressive results, it’s important to mention that some other funds didn’t experience positive inflows last week. One of these is Grayscale’s Bitcoin Trust (GBTC), which suffered the largest outflow with a loss of $167 million in one week. Currently, GBTC’s total net outflow amounts to an astonishing $21.52 billion, indicating the difficulties the fund has been encountering.
Positive Momentum
Currently, the combined market value of Bitcoin spot ETFs amounts to approximately $111.46 billion, which equates to about 5.72% of the total Bitcoin market capitalization ($98,868,000,000). This indicates that these ETFs play a growing role in the broader crypto market. As of the end of the latest week, the cumulative net inflows for all Bitcoin spot ETFs have amounted to $35.91 billion since their inception. In other words, the impact of funds on the crypto market is becoming increasingly significant.
Significantly, the fluctuations in fund performance over the past week resulted in a generally upward trajectory for Bitcoin spot ETFs. Primarily, robust showings by Fidelity and ARKB contributed to this outcome.
As more investors express enthusiasm towards these funds, shrewd watchers are eager to monitor the impact of their actions on the broader cryptocurrency market as a whole.
Read More
- ZK PREDICTION. ZK cryptocurrency
- ARB PREDICTION. ARB cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- W PREDICTION. W cryptocurrency
- XRD PREDICTION. XRD cryptocurrency
- BNB Price Retraces: Altcoin Giant Trims Recent Gains, Can It Recover?
- IMX PREDICTION. IMX cryptocurrency
- Vishnu Manchu finally ENDS THE SILENCE over ongoing family feud between Manchu Manoj and Mohan Babu
- LDO PREDICTION. LDO cryptocurrency
- FLOKI PREDICTION. FLOKI cryptocurrency
2025-01-06 13:29